New retirement account contribution limits from the IRS for 2024 are as follows:

For 401k's and 403b's, $23,000 for employee contributions, an increase of $500 from 2023, and $69,000 for combined employee and employer contributions, an increase of $3,000 from 2023. Those 50 or older get a catch-up contribution of $7,500, making limits for those folks $30,500 for the employee and $76,500 for the total.

IRA contribution limits are up $500 from 2023 at $7,000 for those under age 50 and $8,000 for those age 50 or older.

For HSA's, $4,150 for single contributors, an increase of $300 from 2023, and $8,300 for families, up $650 from 2023.

#2024 #investingnews #irsnews

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